Suppose a consumer purchases only three goods, food, clothing, and shelter. Could all three goods be normal?

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Suppose a consumer purchases only three goods, food, clothing, and shelter. Could all three goods be normal? Could all three goods be inferior? Explain.

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Microeconomics

ISBN: 978-0073375854

2nd edition

Authors: Douglas Bernheim, Michael Whinston

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Question Posted: Mar 17, 2016 04:50 AM

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Suppose a consumer purchases only three goods, food, clothing, and shelter. Could all three goods be normal?

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If the consumer purchases only three goods and income increases i...View the full answer

Microeconomics

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